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Strategy consulting suited for certain industries? |
| Message Name: |
not-so-simple response... sorry:( |
| Date Posted: |
04/14/2002 |
| In Reply To: |
Alright, maybe we can liven this board up a little with some non job-related, but still basic questions.
Does anyone know of any strategy consulting casework done for industries like restaurants or hospitality? If so, could you describe them. And why, in general, are there so few engagements of this sort? It seems most of the consulting work is in industries like Telecom, High-tech, and Consumer Products (correct me if I'm wrong). Is there something about these industries that makes them "easier" to consult? Or more needy of strategy consulting services? Maybe it's because an industry that is more related techn requires more thinking??
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| Message: |
There is a fair amount of work done for restaurants and hospitality. Concept management is critical for restaurants--when to introduce new concepts vs. expand existing concepts (and go-to-market strategy); franchisee relations strategy; and quality management. Many chain restaurants suffer from major variation in food and service quality between individual stores. A consultant might compare practices at the chain's highest quality restaurants and compare them to the worst quality restaurants, then devise a strategy for bringing up the lower-quality restaurants.
I'm not as familiar with recent projects in hospitality, although I doubt since Sept 11 that many hospitality companies have had huge $$ to hire strat consultants. For an interesting look at a current strategy issue in hospitality, see the article in last week's WSJ about the problems Marriott is having managing Ritz Carlton.
The reasons you hear about tech, telecom, and (more recently) CP, are many. (1) these sectors are where capital has been flowing, (2) the stakes are very high in fast-growing but competitive industries, making good strategy essential, (3) these industries are sexier and we like to brag about our work there. Doing strategy for a copper mining company in Cut Bank, Montana, isn't as sexy as helping a European wireless company figure out what to do in the wake of their overpayment at the 3G auctions. (4) in the case of CP, the consultant is working on familiar products and it's an easy conversation starter to talk about "behind-the-scenes" at Crest toothpaste.
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